British specialist insurer Beazley has launched its new digital trading division, which consolidates underwriting, claims, technology and operational experts into a single cross-functional team.
Called Beazley Digital, the new unit is aimed at offering seamless digital access and services to Beazley’s global broking partners.
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Beazley Digital CEO Ian Fantozzi said: “With technology playing an increasingly important role in facilitating insurance placement and portfolio management we can now offer access to the digital distribution channels our broking partners want to use – portals, APIs, market hubs and email.
“We are not looking to simply ‘digitise’ legacy systems and continue traditional line-led underwriting; instead we have organised the team so that we can offer one Beazley point of contact to access multiple lines and digital services via a selection of digital channels.”
Beazley stated that the new unit’s core objectives include ensuring that its digital traded products use consistent technology to offer automated solutions.
Beazley Digital looks to meet brokers’ needs by delivering its products through digital distribution channels and enabling easy access to specialists.
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By GlobalDataAdditionally, the new unit eyes improvement in portfolio management by sharing data and insights with brokers.
The platform also strives to improve how it delivers services through partnerships with brokers and technology partners.
In October 2021, Beazley secured in-principle nod from Lloyd’s to establish ESG-focused Syndicate 4321, which began its operations at the start of this year.
